Market Research Glossary

  • Blog : Stated Importance Versus Derived Importance: What’s the Difference?

    Stated Importance Versus Derived Importance: What’s the Difference?

    Directly asking respondents about how important factors are is formally referred to as stated importance. Whereas derived importance is the indirect way of measuring which factors matter the most to respondents by using other answers from the survey. In this blog post, our market research company provides an overview of both approaches as well as which one is better to use. But wait...why do we need stated or derived importance in market research? Researchers trust respondents to provide the

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  • ethical-practices-market-research-10082018

    What are Ethical Practices in Market Research?

    Anywhere in business, ethics play an important role. Ethical practices are what help establish trust between parties and provide structure for dealings. The market research industry is no exception to these ethical practices. Market research ethics are moral principles that guide the responsibility to conduct and analyze research without deception to ensure authenticity. At every step of a market research effort, a market research company takes measures to ensure both participants and clien

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  • Blog: What is Data-Driven Decision Making? (And Why It's So Important)

    What is Data-Driven Decision Making? (And Why It's So Important)

    As human beings, we often make split-second decisions based on feeling and intuition, without taking the outcome or consequence into account. We can’t always help it, we are emotional and empathetic creatures after all! When it comes to making business decisions, however, it is crucial to take all external factors into account before taking any decisive action. Through the process of data-driven decision making (DDDM) you can ensure that your business needs and objectives are guided by cold

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  • Primary Market Research: What is it and Why is it Important?

    Primary market research is huge. I mean, it’s kind of a big deal! Think about it: giant corporations have entire departments dedicated to market research, and some colleges and universities even have market research degrees and certification programs. With that said, there’s a lot to it. Just take one look at our market research company’s blog page and you’ll see a plethora of sub-topics. Where would one even begin? This article breaks down primary market research, a broad category that br

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  • Blog post: Custom Online Research Panels: 4 Reasons to Choose Third-Party Panel Recruitment

    Custom Online Research Panels: 4 Reasons to Choose Third-Party Panel Recruitment

    Custom online research panels are an increasingly popular tool in the market research world. They are effective, practical, and worthwhile. Oftentimes companies will attempt to reinvent the wheel with new projects throughout the year; projects that are laborious and time-consuming. That’s where market research panels come in. They provide a pool of qualified individuals who can participate in research studies at a moment’s notice. We know third-party panels can be confusing, especially for th

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  • ad-recall-market-research-02202019

    What Are Ad Recall Surveys? | Market Research Company

    Spend. Spend. Spend. The world of advertising is all about spending money to reach targeted geographies, targeted users, and generate revenue. Although the days of digital marketing have made advertising easier to track and measure, an enormous gap still exists in the industry between market research and advertising. This is where ad recall market research enters the fold. Article Contents Keep reading to learn more about ad recall surveys, or skip ahead to a section you are most intereste

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  • Mobile-ethnography-benefits-market-research

    What is Mobile Ethnography? | 6 Benefits

    In the market research industry, mobile ethnography provides valuable insights and can have several key advantages over other research methodologies. The flexibility of mobile research approaches combined with the above benefits creates a strong return on investment. Our market research company details more about what mobile ethnography is and the 6 benefits of using this research methodology below. Interested in conducting a mobile ethnography study? We can help with that too. Contact Drive

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  • blog: Ultimate Guide to Brand Tracking in 2021 | Market Research Company

    Ultimate Guide to Brand Tracking in 2021 | Market Research Company

    A brand tracking study can help take the guesswork out of market fluctuations or dips in sales by providing continuous and fresh insight into any industry and target audience. Sometimes it feels as though there is no rhyme or reason as to why our business is performing well or why it is not hitting revenue goals. Brand tracking can help measure this type of uncertainty. Tracking studies provide real-time insight into the ever-changing attitudes, behaviors, and opinions of the customers and p

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  • what is ad hoc market research

    What is Ad-Hoc Market Research? | National Market Research Company

    Market research projects come in many shapes and forms. There are 2 core types of studies in market research: Tracking studies or long-term projects Ad-hoc market research projects So, what is a typical day like in market research? The answer is: "it depends.” What does it depend on? It depends on the type of market research team you work for (client-side or supplier side), your role and title in your organization, the industries or methodologies your organization specializes in, and a numbe

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  • Blog: What is Correlation Analysis in Market Research?

    What is Correlation Analysis in Market Research?

    Correlation analysis in market research is a statistical method that identifies the strength of a relationship between two or more variables. In a nutshell, the process reveals patterns within a dataset’s many variables. Using one of the several formulas, the end result will be a numerical output between -1 and +1. Let’s say you are interested in the relationship between two variables, Variable A and Variable B. Results close to +1 indicate a positive correlation, meaning as Variable A incr

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  • market-research-study-blinded-02072019

    What Does it Mean for a Market Research Study to be Blinded?

    One of the most frequent questions our market research company hears is, "What does it mean or a market research study to be blinded? Let's say you've decided to field an online survey among the customers of your product or service. Before you start designing the questions and moving too far ahead, there is an important question to ask yourself: do I want to want to remain anonymous as the sponsor of the survey? If the answer to that question is "Yes," then the best option for your market res

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  • Blog: Topline or Comprehensive Market Research Report: What’s the Difference?

    Topline or Comprehensive Market Research Report: What’s the Difference?

    Wondering the difference between a topline and a comprehensive market research report? Our market research company has your back! The main differences stem from the level of detail and the speed of executing the report. Ultimately, both can be developed to look polished and presentation-ready. With both a full comprehensive and a topline report, there is also an option to debrief after the market research is conducted. Drive Research typically schedules this debrief meeting via a conference ca

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